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QUICKBOOKS: As youre reviewing a clients Profit and Loss accounts, you find an account called...

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Accounting

QUICKBOOKS:

As youre reviewing a clients Profit and Loss accounts, you find an account called Reconciliation Discrepancies account. This account has a balance of $1,250.

What does this signify?

  • The client undid a reconciliation, then redid it
  • The client forced a reconciliation by adding an adjustment
  • In Bank feeds, QuickBooks Online posted the difference between the amount of a transaction and the amount that cleared the bank to this account

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